Bank of Montreal Can Trims Stake in Ingredion Incorporated (NYSE:INGR)

Bank of Montreal Can cut its position in shares of Ingredion Incorporated (NYSE:INGR) by 58.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 81,152 shares of the company’s stock after selling 112,129 shares during the period. Bank of Montreal Can owned about 0.12% of Ingredion worth $11,148,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in INGR. Dimensional Fund Advisors LP lifted its stake in Ingredion by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,685,339 shares of the company’s stock worth $308,009,000 after acquiring an additional 125,543 shares during the period. Pacer Advisors Inc. lifted its position in shares of Ingredion by 92.4% in the 2nd quarter. Pacer Advisors Inc. now owns 1,764,012 shares of the company’s stock worth $202,332,000 after purchasing an additional 846,967 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Ingredion by 2.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,539,179 shares of the company’s stock worth $211,529,000 after purchasing an additional 36,421 shares during the period. Cooke & Bieler LP boosted its stake in shares of Ingredion by 2.7% during the second quarter. Cooke & Bieler LP now owns 1,018,002 shares of the company’s stock valued at $116,765,000 after purchasing an additional 27,087 shares in the last quarter. Finally, Equity Investment Corp increased its holdings in Ingredion by 2.8% during the second quarter. Equity Investment Corp now owns 978,636 shares of the company’s stock valued at $112,250,000 after buying an additional 26,526 shares during the period. 85.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ingredion

In related news, CEO James P. Zallie sold 371 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $133.58, for a total transaction of $49,558.18. Following the completion of the transaction, the chief executive officer now directly owns 52,159 shares in the company, valued at $6,967,399.22. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Larry Fernandes sold 4,700 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $153.41, for a total transaction of $721,027.00. Following the completion of the sale, the senior vice president now directly owns 29,034 shares in the company, valued at approximately $4,454,105.94. The trade was a 13.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,328 shares of company stock worth $1,649,741. 1.80% of the stock is currently owned by insiders.

Ingredion Stock Performance

INGR opened at $147.34 on Monday. The firm’s 50-day moving average price is $139.58 and its 200-day moving average price is $128.64. The company has a market cap of $9.60 billion, a P/E ratio of 14.37, a price-to-earnings-growth ratio of 1.26 and a beta of 0.73. The company has a quick ratio of 1.69, a current ratio of 2.67 and a debt-to-equity ratio of 0.44. Ingredion Incorporated has a 52-week low of $101.00 and a 52-week high of $155.44.

Ingredion (NYSE:INGR) last posted its quarterly earnings results on Tuesday, November 5th. The company reported $3.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.58 by $0.47. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.94 billion. Ingredion had a net margin of 9.05% and a return on equity of 17.75%. The business’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter last year, the company posted $2.33 earnings per share. As a group, equities analysts anticipate that Ingredion Incorporated will post 10.6 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays upped their target price on Ingredion from $145.00 to $168.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Oppenheimer raised their price objective on Ingredion from $147.00 to $178.00 and gave the company an “outperform” rating in a research report on Wednesday, November 6th. UBS Group boosted their target price on shares of Ingredion from $165.00 to $173.00 and gave the stock a “buy” rating in a report on Friday, November 15th. BMO Capital Markets raised their price target on shares of Ingredion from $128.00 to $147.00 and gave the company a “market perform” rating in a report on Wednesday, November 6th. Finally, StockNews.com lowered shares of Ingredion from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $155.17.

Ingredion Company Profile

Ingredion Incorporated, together with its subsidiaries, manufactures and sells sweeteners, starches, nutrition ingredients, and biomaterial solutions derived from wet milling and processing corn, and other starch-based materials to a range of industries in North America, South America, the Asia Pacific, Europe, the Middle East, and Africa.